Global Wheat Market Report by End User - B2B (Industrial Use, Food & Beverages, Animal Feed, Others), Nature (Conventional, Organic), B2C (Online, Offline) Countries and Company Analysis,2024-2032

Global Wheat Market Report by End User - B2B (Industrial Use, Food & Beverages, Animal Feed, Others), Nature (Conventional, Organic), B2C (Online, Offline) Countries and Company Analysis,2024-2032

Global Wheat Market Size

Wheat market is expected to go beyond US$ 68.34 billion by 2032 from US$ 45.60 billion in 2023, with a CAGR of 4.40% from 2024 to 2032. The global factors contributing to the growth consist of; growing population, the bead demand for wheat products for food and as a feed ingredient, and technological and innovation in farming, which leads to improved production of quality grain.

Global Wheat Market Analysis

Wheat is a cereal grain that can be grown almost all over the world; it is considered as a staple food due to its rich contents. It is part of the Triticum genus and different species and varieties exist depending on climatic conditions for growth all over the world. Hence, wheat grains are essentially a carbohydrate, proteins – gluten and non-gluten proteins, dietary fiber’s rich edible, and staple grain for a large section of the global population.

Wheat is not used for oil production as the major product of this cereal grain is for consumption. It is ground and processed into flour that is incorporated in the preparation of breads, pasta, noodles, pastry goods, and leavened bakery products. Wheat foods offer nutrition value such as energy, protein, B vitamins, and minerals and these product help to cater for the human nutritional needs.

Aside from being a food source for people, wheat is essential in livestock and poultry feeds to sustain animals. Wheat bran and middlings are cost effective animal feed ingredients which are by-products of milling due to their richness in fibers.

Driving forces for the Wheat Market

Global Population Growth and Urbanization:

As the global population increases especially in developing countries, there will always be increased demand for the basic foods such as the wheat. Modernization and advancement in technology increase the demand of convenience foods, processed foods, wheat products and therefore increases consumption. This demographic trend makes consistently demanding the market for wheat, which affects the world production, exports, and prices.

Changing Dietary Preferences and Nutrition Awareness:

Market forces that make consumers change towards better nutrition standards boost consumption of wheat products. The availability of whole wheat and high-fiber products is on the rise owing to the customer who thinks he is doing something good for himself. This trend affects novelty in products and advertisements, thus encouraging variations in wheat-based foods consumers can meet.

Industrial Applications:

Wheat is used in food industries, in the production of beer, ethanol and pharmaceuticals and in cosmetic industries as emollients. The applicability of wheat components such as starch and gluten in other sectors other than food makes it able to generate its revenue from a large and varying market which help to balance the market for the producers. Thus, the option for industrial usage helps the market to be able to cope with changes in demand of foods and or other changing economic factors.

Technological Advancements in Agriculture:

Advanced farming methods including better seeds, advanced methods of farming like precision farming and sustainable farming increase production and quality of the wheat. They increase output per unit of input, minimize effects on the natural environment, and bring down the cost of production; thus, improving the position of wheat producers in the global economy. There are other favorable changes that stem from technological modernization which entail a (counter)strategy to climate changes’ challenges insofar as they guarantee the stability of supplies and operations in the wheat market.

Asia Pacific Wheat Market

The Asia Pacific wheat market is quite active and varied including production and consumption trends across the countries of the region.

Wheat is among the widely used crops across the world, and China and India act as leading producers and consumers. Chinese government encourage and provide subsidies and policies to meet its need for wheat production. India’s diverse demographics also play into a robust internal consumption, especially for wheat-based foods such as chapati and bakery products etc.

Among the exporting countries, Australia is unique in terms of its contribution to the supply of wheat in the Asia Pacific region. As a leading producer of premium wheat producers and with progressive agriculture techniques, the country has a significant role in exporting wheat to the other countries of the region and the global market.

Indonesian, Vietnamese, and Thai countries are among the leading importers as most of the countries lack the ability or infrastructure to produce large amounts of wheat which is increasingly being consumed in the regions mainly in the form of noodles, bread, and other bakery items.

Therefore, growth in the Asia Pacific wheat market is a balancing act of population and dietary changes, agricultural policies, and trade factors that elicit production and consumption both and food security in the region.

Wheat Company Analysis

The key players in the wheat market include Cargill, Inc., CHS Inc., Bunge, Glencore, Louis Dreyfus Company, Ardent Mills, The Scoular Company, Syngenta, The Soufflet Group, and Adani Wilmar.

Wheat Company News

In October 2023, India pioneered the wheat technique known as biological nitrification inhibition or BNI. In India's Indo-Gangetic area, using BNI technology will help create nitrogen-efficient wheat production systems.

In June 2023, the University of Minnesota introduced "" MN-Rothsay "" as the name of a hard red spring wheat cultivar. The novel wheat cultivar possesses a superior combination of robust straw strength, disease resistance, protein content, and yield.

In May 2023, the Gujarat Co-operative Milk Marketing Federation (GCMMF) entered the organic whole wheat flour market by launching the Amul organic atta. GCMMF's strategic plan to enter the organic atta market is in response to the increased demand from consumers for healthier and more organic food options.

In February 2023, Inari, the SEEDesign firm, and InterGrain, one of Australia's top grain breeding companies, joined forces in a calculated partnership to increase wheat's potential output and strengthen the crop's long-term survival in the country's fast-changing climate.

Nature – Global Wheat Market in 2 Viewpoints –

1. Organic
2. Conventional

End User - Global Wheat Market in 2 Viewpoints –

1. B2B

I. Food & Beverages
II. Animal Feed
III. Industrial Use
IV. Others

2. B2C

I. Online
II. Offline

Geography – Global Wheat Market

North America

1. United States
2. Canada

Europe

1. France
2. Germany
3. Italy
4. Spain
5. United Kingdom
6. Belgium
7. Netherlands
8. Turkey

Asia Pacific

1. China
2. Japan
3. India
4. Australia
5. South Korea
6. Thailand
7. Malaysia
8. Indonesia
9. New Zealand

Latin America

1. Brazil
2. Mexico
3. Argentina

Middle East & Africa

1. South Africa
2. Saudi Arabia
3. United Arab Emirates

Company Insights:

• Overviews
• Recent Developments & Strategies
• Revenue

Company Analysis:

1. Cargill, Inc.
2. CHS Inc.
3. Bunge
4. Glencore
5. Louis Dreyfus Company
6. Ardent Mills
7. The Scoular Company
8. Syngenta
9. The Soufflet Group
10. Adani Wilmar